Corporate activism traditionally meant businesses lobbying for policies favorable to their economic interests—such as lower corporate taxes, favorable regulations, or profitable trade policies. Today, however, it increasingly signifies something more divisive and economically damaging. Recent controversies involving Disney, Anheuser-Busch, and Target illustrate a troubling trend: corporations pursuing political activism at the cost of billions in shareholder value. This phenomenon isn’t mere managerial opportunism. Rather, it represents a deeper, systemic shift we term Second Wave corporate opportunism.
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